AUD Trading Outlook Archive

The levels are pretty clear today, with solid support at .9460 and resistance at .9530. I’d play this range with a bias towards selling rallies.

Picking the important 100-pip range levels is a bit easier today and I’d suggest a range between .9520/.9620 with a modest bearish bias on the session. The market does like to test out important levels when it gets the chance.

Once again I think it’s going to be a case of picking the 100 pip range over a 24 hour period. In fact I think we might struggle to get even that much volatility but .9550/.9650 should cover most eventualities. Risk appetite remains strong which… Read more

We picked the 100 pip range yesterday but got the levels wrong by 20 pips. More of the same today, just adjust my levels by 20 J. Support should be strong near .9525 but it is Friday and we often get some risk-off moves during… Read more

Picking the daily range will be the tricky part. I expect to see a downside test first, possibly as low as .9550 before stability returns and we could see the pair back near .9650 especially if AUD/JPY buyers return.

It looks like a day of range trading is likely, roughly between .9630/.9730. The short-term bullish trend is strong but heavy technical resistance levels are likely to slow it down a lot.

We can expect another quiet session I’m afraid but I am starting to turn slightly bearish on the AUD in the very short term. It’s running out of momentum against the EUR and the JPY so selling intraday rallies is a reasonable strategy.

I’m still in dip-buying mode but with resistance levels looming against the EUR, JPY and USD, we may indeed get a dip over the next 3 to 4 sessions. I’d play .9635/.9715 on the wide during today’s Asian session.

We may be seeing the re-launch of the USD bear trend and buying AUD/USD dips is the obvious play. We will continue to see plenty of volatility on the crosses, like we had yesterday in AUD/JPY, so picking the right entry level is still vital.

The AUD looks increasingly strong on the crosses and this will give support to AUD/USD on any dips. Barrier protection ahead of .9600 is expected to be very heavy. More range trading in AUD/USD then, possibly .9490/.9590 range.